Even as the Jaiprakash chapter closes, the Videocon Group saga begins. This is another overstretched Indian debtor, which went from being a humble manufacturer of television sets to providing wireless services and scouring for oil and gas in Brazil, Mozambique and Indonesia.

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They can also be a key intermediary between businesses in the shadow economy and those in the formal economy helping firms to manage their affairs, legalise and “come out of the shadows” says Director of Professional Insights, ACCA, Maggie McGhee.

Robin Banerjee, Managing Director and Executive Director, Caprihans India Ltd, a subsidiary of Bilcare Ltd and author of the book, Who Cheats and How? Scams, Frauds and the Dark Side of the Corporate World, talks to ET CFO about the best fraud management practices and the CFO’s role in these.